Burlington-based XebiaLabs Inc. has raised a $100 million Series B round to help it compete with the likes of IBM Corp. (NYSE: IBM) and CA Technologies (Nasdaq: CA) for some of the world's biggest enterprise customers.

XebiaLabs' technology helps software development teams at large companies release software updates faster and more reliably. Since joining XebiaLabs in 2015, CEO Derek Langone has directed the company to focus on selling to customers among the largest 2,000 firms in the world, usually a tough segment for startups to serve.

Langone said he decided to raise such a large round now because those top companies are finally starting to understand that they need to automate as much of the software deployment process as they can in order to keep their back-end technology running smoothly and stay competitive.

"These big brands are struggling with using technology to run their businesses,” Langone said. XebiaLabs customers include Bank of America, General Electric Co. and United Health Group.

The investment comes from Susquehanna Growth Equity and Accel, as well as existing investors. A partner from each firm will join XebiaLabs' board of directors.

XebiaLabs had previously raised $21.5 million, including $12 million in a 2014 round led by Washington, D.C.-based Updata Partners.

The new money will go toward growing engineering, marketing and customer support teams, Langone said. XebiaLabs currently has about 140 employees, about half of which are in Western Europe. Langone said he expects to hire about 50 more people by the end of the year.

XebiaLabs spun out of Xebia Group, a Netherlands-based IT service management company, in 2008. The company now has about 250 customers and an average contract size north of $100,000 per year, according to Langone.

Langone most recently co-founded Shuttersong Inc., a photo-social app. Previously, he served as president and chief operating officer of SmartBear, another local enterprise software company that sold to a private equity firm last year for $500 million.

As for a potential exit strategy for XebiaLabs, Langone wants to keep his options open.

"I think there’s a lot of options,” Langone said. “We’ve gotten ourselves into a position where we control our own destiny.”